NOV 6, 2017: JAIZ BANK OFFLOAD AT NIGERIAN STOCK MARKET

Jaiz Bank PLC, the bank registered in Nigeria primarily for Islamic banking and quoted in the Nigerian stock exchange earlier this year, today Monday November 6, 2017 recorded a major offload that accounted for 48.5% of the day's 466.5m traded volume.

In 33 deals 226.7m shares of Jaiz bank changef hands as it dropped by N0.02 per share. The deals were worth N133.8m.

Thus together with FBN Holdings PLC in which day high 506 deals were struck for  43.47m offload, both equities accounted for above 50% of the day's volume.

The worth of the FBN Holdings deals was N304.95m which was the 3rd highest for the day.

Indeed, at 466.5m traded volume, trade for the day hit a level that no where to be found all through October. The highest daily traded volume last month was in October 26 when 356.8m shares were exchanged in 4384 deals. In contrast, the number of deals today came to 4274.

Naturally, Jaiz bank is not yet a high priced equity and in the end, traded value closed at N2.9bn with no equity witnessing deals worth up N500m.

Top of the bill was N452.35m recorded in Nigerian Breweries, down N0.04 per share, with 161 deals involving 3.13m units.

Fairly close by was N370.49m worth of 4th placed 178 deals for 8.88m shares in GTB.

In terms of number of deals, FBN Holdings lead was followed by Zenith bank with 224 deals for 7.688m shares worth 4th ranked N198.2m and 192 deals  for 6th ranked 16.86m shares worth N164.93m in UBA, down N0.2 per share.

The All shares index continued with its up today, down tomorrow dance that started last week. It eased by 0.024% to 36930.83 today after topping up with 0.17% last Friday.

Earlier, on Thursday last week it had dropped by 0.027% as follow up to Wednesday's 0.56% increase.

Today's slide was induced by wider margin of decline by 20 price losers recorded compared to 23 price gainers.

The drops were paced in Naira terms by Total Nigeria, down N11.00 or 2nd highest 4.66%  as it opened and closed the day at N225 per share after ending Friday at N236.

It witnessed 26 deals for 0.107m shares worth N24.17m.

On its trail were 7up Bottling, down N2.00 or 2.22% and International Breweries with N1.65 or 3.52% decline.

On the other hand, Naira gains were paced by Guinness up N2.00 or 2.0% but led in% terms Diamond bank up 9.43% or N0.10 per share.

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